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  3. Latvia

Economy of Latvia. Statistics, Data and Indicators

flag
Latvia
69A- Credit rank #39
N/A Quality of life #
44 Corruption rank#41
19 Ease of doing business#19
Latvia


Latvia Major Economic Indicators

Indicator Data Period
GDP Value 34.12 USD Billion 2019
GDP Annual Growth Rate -8.9 % 2Q/20
GDP Growth Rate -6.5 % 2Q/20
GDP per capita 16698 USD 2019
Inflation Rate YoY -0.3 % Sep/20
Interest Rate 0 % Sep/20
Unemployment Rate 8.6 % 2Q/20
Wages 836 EUR/Month | 987.608 USD/Month Jun/20
Balance of Trade -158 EUR Million | -0.187 B USD Aug/20
Current Account 103 EUR Million | 0.122 B USD Aug/20
Foreign Exchange Reserves 4321 USD Million | 4.321 B USD Sep/20
Government Debt 12756 EUR Million | 15.069 B USD 2Q/20


GDP
vvp
34.12
USD Billion
#99 from 174 countries
GDP per capita
vvp
16698
USD
#47 from 169 countries


GDP Indicators

Indicator Data Period
GDP Value 34.12 USD Billion 2019
GDP Annual Growth Rate -8.9 % 2Q/20
GDP Growth Rate -6.5 % 2Q/20
GDP per capita 16698 USD 2019
Gross National Product 6915 EUR Million | 8.169 USD Billion 2Q/20
GDP Constant Prices 6290947 EUR Thousand | 7.432 B USD 2Q/20
GDP per capita PPP 30830 USD 2019
GDP From Agriculture  281465 EUR Thousand | 0.333 B USD 2Q/20
GDP From Construction  382030 EUR Thousand | 0.451 B USD 2Q/20
GDP From Manufacturing  700864 EUR Thousand | 0.828 B USD 2Q/20
GDP From Mining  175562 EUR Thousand | 0.207 B USD 2Q/20
GDP From Public Administration  452195 EUR Thousand | 0.534 B USD 2Q/20
GDP From Services  795966 EUR Thousand | 0.94 B USD 2Q/20
GDP From Transport  402065 EUR Thousand | 0.475 B USD 2Q/20


Budget Indicators

Indicator Data Period
Government Debt to GDP 36.9 % 2019
Government Budget Value -128615336 EUR | -0.152 USD Billion Sep/20
Government Spending 1346025 EUR Thousand | 1.59 USD Billion 2Q/20
Government Debt 12756 EUR Million | 15.069 USD Billion 2Q/20
Government Revenues 924419 EUR Thousand | 1.092 USD Billion Sep/20
Fiscal Expenditure  1054372 EUR Thousand | 1.246 B USD Sep/20
Government Budget to GDP -0.2 % 2019
Government Spending to GDP 38.9 % 2019
Military Expenditure 629 USD Million | 0.629 B USD 2018


Inflation Indicators

Indicator Data Period
Consumer Price Index (CPI) 109 index points Sep/20
Export Prices 102 index points Aug/20
Food Inflation 2.2 % Sep/20
Gasoline Prices 1.31 USD/Liter Sep/20
GDP Deflator 1.1 % 2Q/20
Import Prices 92.8 index points Aug/20
Inflation Rate YoY -0.3 % Sep/20
Producer Prices 104 index points Sep/20
Inflation Rate Mom 0 % Sep/20
Core Consumer Prices 109 Index Points Sep/20
Core Inflation Rate 0.6 % Sep/20
CPI Housing Utilities 104 Index Points Sep/20
CPI Transportation 101 Index Points Sep/20
Harmonised Consumer Prices 108 Index Points Sep/20
Producer Prices Change  -2.1 % Sep/20


Trade Indicators

Indicator Data Period
Current Account to GDP -0.5 % 2019
Balance of Trade -158 EUR Million | -0.187 USD Billion Aug/20
Capital Flows 573000 EUR Thousand | 0.677 USD Billion 2Q/20
Current Account 103 EUR Million | 0.122 USD Billion Aug/20
Exports 1075 EUR Million | 1.27 USD Billion Aug/20
External Debt 36444 EUR Million | 43.053 USD Billion 2Q/20
Foreign Exchange Reserves 4321 USD Million | 4.321 USD Billion Sep/20
Imports 1232 EUR Million | 1.455 USD Billion Aug/20


Money Indicators

Indicator Data Period
Bank Lending Rate 4.36 % May/20
Gold Reserves 6.7 Tonnes 2Q/20
Interbank Rate 0.17 % Oct/20
Interest Rate 0 % Sep/20
Loans to Private Sector 4464 EUR Million | 5.274 USD Billion Aug/20
Money Supply M0 9816 EUR Million | 11.596 USD Billion Sep/20
Money Supply M1 14416 EUR Million | 17.03 USD Billion Aug/20
Money Supply M2 16394 EUR Million | 19.367 USD Billion Aug/20
Central Bank Balance Sheet 21463 EUR Million | 25.355 B USD Jun/20
Foreign Direct Investment -54 EUR Million | -0.064 B USD Jul/20


Labor Indicators

Indicator Data Period
Minimum Wages 430 EUR/Month | 507.98 USD/Month 3Q/20
Retirement Age Men 63.75 2020
Retirement Age Women 63.75 2020
Unemployment Rate 8.6 % 2Q/20
Wages 836 EUR/Month | 987.608 USD/Month Jun/20
Youth Unemployment Rate 16.3 % Aug/20
Employed Persons 892 Thousand Person | 0.892 Million Person 2Q/20
Employment Change  -4.4 % 2Q/20
Employment Rate  64.1 % 2Q/20
Full Time Employment 783 Thousand Person 2Q/20
Job Vacancies 19753 | 19.753 K 2Q/20
Labor Force Participation Rate 70.1 % 2Q/20
Long Term Unemployment Rate 2.1 % 1Q/20
Part Time Employment 68.3 Thousand Persons 2Q/20
Unemployed Persons 70306 Persons | 0.07 Million Persons Sep/20


Taxes

Indicator Data Period
Corporate Tax Rate 20 % 2020
Personal Income Tax Rate 31.4 % 2020
Sales Tax Rate 21 % 2020
Social Security Rate 35.09 % 2020
Social Security Rate For Companies 24.09 % 2020
Social Security Rate For Employees 11 % 2020


Production Indicators

Indicator Data Period
Electricity Production 581 GWh Dec/19
Industrial Production -3 % Aug/20
Mining Production 1.8 % Aug/20
Industrial Production (MoM) -0.4 % Aug/20


Business Indicators

Indicator Data Period
Business Confidence -1.1 index points Sep/20
Corruption Index 56 index points 2019
Corruption Rank 44 place 2019
Ease of Doing Business 19 place 2019
Manufacturing Production -1.5 % Aug/20
Competitiveness Index 66.98 Index Points 2019
Competitiveness Rank 41 2019
Economic Optimism Index 91 Index Points Aug/20


Consumer Indicators

Indicator Data Period
Consumer Confidence -14.4 index points Sep/20
Retail Sales MoM 0.9 % Aug/20
Retail Sales YoY 4.1 % Aug/20
Consumer Credit 509 EUR Million | 0.56 USD Billion Dec/18
Consumer Spending 3288856 EUR Thousand | 3.885 USD Billion 2Q/20
Households Debt To Income 33.47 % 2018


Housing Market

Indicator Data Period
Construction Output 1.1 % 4Q/19


Government Debt
dept_icon
15.069
USD Billion
#49 from 65 countries
Balance of Trade
balance_icon
-0.187
USD Billion
#90 from 173 countries


Gold Reserves
gold_reserve_icon
6.7
Tonnes
#79 from 114 countries
Foreign Exchange Reserves
gold_reserve_icon
4.321
USD Billion
#87 from 114 countries


Government Budget Value
balance_icon
-0.152
USD Billion
#113 from 113 countries
Inflation Rate
inflation_icon
-0.3
%
#78 from 174 countries


Interest Rate
discount_rate_icon
0
%
#147 from 159 countries
Bank Lending Rate
credit_rate_icon
4.36%
#30 from 55 countries


Unemployment Rate
unemployment_icon
8.6
%
#79 from 171 countries
Wages
salary_icon
987.608
USD/Month
#46 from 82 countries


Retirement Age
man_icon
woman_icon
63.75
63.75
men
women
Taxes
company_icon
private_icon
20%
31.4%
company profits
income of individuals


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